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Speed and Income

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  • Mogens Fosgerau

Abstract

The relationship between speed and income is established in a microeconomic model focusing on the trade-off between travel time and the risk of receiving a penalty for exceeding the speed limit. This is used to determine when a rational driver will choose to exceed the speed limit. The relationship between speed and income is found again in the empirical analysis of a cross-sectional dataset comprising 60,000 observations of car trips. This is used to perform regressions of speed on income, distance travelled, and a number of controls. The results are clearly statistically significant and indicate an average income elasticity of speed of 0.02; it is smaller at short distances and about twice as large at the longest distance investigated of 200 km. © 2005 LSE and the University of Bath

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Article provided by London School of Economics and University of Bath in its journal Journal of Transport Economics and Policy.

Volume (Year): 39 (2005)
Issue (Month): 2 (May)
Pages: 225-240

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Handle: RePEc:tpe:jtecpo:v:39:y:2005:i:2:p:225-240
Contact details of provider: Web page: http://www.bath.ac.uk/e-journals/jtep

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Find related papers by JEL classification:
  • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

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  1. Gander, James P., 1985. "A utility-theory analysis of automobile speed under uncertainty of enforcement," Transportation Research Part B: Methodological, Elsevier, vol. 19(3), pages 187-195, June.
  2. Rienstra, S.A. & Rietveld, P., 1996. "Speed behaviour of car drivers: a statistical analysis of acceptance of changes in speed policies in the Netherlands," Serie Research Memoranda 0007, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
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Cited by:

  1. Elvik, Rune, 2006. "Are individual preferences always a legitimate basis for evaluating the costs and benefits of public policy?: The case of road traffic law enforcement," Transport Policy, Elsevier, vol. 13(5), pages 379-385, September.
  2. Borger, Bruno De, 2011. "Optimal congestion taxes in a time allocation model," Transportation Research Part B: Methodological, Elsevier, vol. 45(1), pages 79-95, January.
  3. repec:dgr:uvatin:20080087 is not listed on IDEAS
  4. Bonilla, David, 2009. "Fuel demand on UK roads and dieselisation of fuel economy," Energy Policy, Elsevier, vol. 37(10), pages 3769-3778, October.
  5. McQuaid, Ronald W., 2009. "A model of the travel to work limits of parents," Research in Transportation Economics, Elsevier, vol. 25(1), pages 19-28.
  6. repec:dgr:uvatin:2008087 is not listed on IDEAS
  7. Muhammad Sabir & Jos Ommeren & Mark Koetse & Piet Rietveld, 2011. "Adverse Weather and Commuting Speed," Networks and Spatial Economics, Springer, vol. 11(4), pages 701-712, December.

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